A quick post about one of the companies I met with at the BizTEC entrepreneurship conference, DiagSense. The company has developed very cool technology that predicts mechanical failure based on statistical algorithms. The solution has many potential applications, such as identifying places where leaks can occur in oil pipelines, or early failure detection for wind turbines. It can even determine which bearing, shaft or gear mesh will get stuck in a complex engine, leading to a breakdown (which could be especially dangerous if we’re talking about a jet engine).
This is all very well and good, but how do you create a single marketing message targeted at the oil industry, wind turbine manufacturers and jet engine makers? You don’t.
Each target audience needs its own message. DiagSense has done a great job of this on their home page with one slide for each market. But this needs to carry through all of their materials. Each market needs its own kit: Web page, brochure, presentation, demo, product packaging and pricing.
As a lean marketer, my recommendation is that they start by focusing on the quickest possible adopters, to gain early traction and early revenue. Identify which of the target markets has the most intense need, along with the budget to purchase such a solution.They can mention all of their potential markets when presenting to potential investors, since this shows growth potential. However they need to be prepared to go deep into one vertical at the start, in order to gain traction.